Verity acquires business process management company
- By William Welsh
- Dec 17, 2004
Verity Inc. has acquired Dralasoft, a provider of Java-based technology for business process management, for $8 million cash, the company announced today.
Following the transaction, Verity of Sunnyvale, Calif., will use Westminister, Colo.-based Dralasoft's technology to broaden its presence in the business process management market and boost its content services, content capture and process automation capabilities.
Verity plans to aggressively market Dralasoft's business process management and business activity monitoring software products to its 11,500 customers, said Anthony Bettencourt, Verity's president and chief executive officer.
The newly acquired company will become a wholly-owned subsidiary of Verity, and Suresh Ramaswamy, Dralasoft's president and chief technology officer, will become vice president of business process management strategy with Verity.
Dralasoft Workflow, an enterprise business process management suite, is an embedded application found in many software products used in markets, such as manufacturing, government, retailing, telecommunications, defense, law, education, entertainment and agriculture.
Verity, a provider of capital management solutions to the government and commercial sectors, has more than more than 500 employees and annual sales of $124.3 million, according to Hoover's Online of Austin, Texas.
William Welsh is a freelance writer covering IT and defense technology.